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...Btw LMAO at you making over 100k 25yrs ago, as an entry-level actuary. Not even your own mother would believe that lie.
how would you know? You were barely in your teens in the 80's per your past post in another thread and your current city salary is not high by NYC standards.
Quote:
Originally Posted by likeminas
Good afternoon;
We're a young couple (early 30's) with no children. ... Our gross combined salary is 120k a year..
Those of us of the Yuppy generation had long hours, high paying careers, low debt and a low cost of living. The current generation has long hours, low paying careers, high debt and high cost of living. Sorry to burst your bubble of reality.
To give you another example my cousin was a Mgr at Staples on Steinway (you posted you live in Astoria currently) in the early 80's. His base salary was in the low $40's and with bonuses he finished the year in the $90's and all he had was an Associates degree.
how would you know? You were barely in your teens in the 80's per your past post in another thread and your current city salary is not high by NYC standards.
Those of us of the Yuppy generation had long hours, high paying careers, low debt and a low cost of living. The current generation has long hours, low paying careers, high debt and high cost of living. Sorry to burst your bubble of reality.
To give you another example my cousin was a Mgr at Staples on Steinway (you posted you live in Astoria currently) in the early 80's. His base salary was in the low $40's and with bonuses he finished the year in the $90's and all he had was an Associates degree.
I'm gonna have to rep you for taking the time to go through my posting history to make a completely irrelevant point.
What I make is not and was never a matter of discussion here.
I called you out on your assumption that the OP was a CPA, which I reiterate, he never said he was one.
You unknowingly make assumptions of what the standard entry-level salary is for accounting majors going into auditing for one of the big 4 is...based on your own lies.
And you made over 100k as entry-level actuary in the 80s?
LMAO.
I have to agree. That is an insane claimage. Banking 100k in the early 80s is some serious coin. And making that much as entry level is laughable at best
I too will be working at a Big 4 firm in the near future. Now while the idea of living in New York sounds exciting to me, I just wonder if living in New York when you´re working that many hours would be worth the high cost of living? The firm pays the same salary in both Chicago and New York at around $56,000 a year.
I'd say NYC over Chicago is worth it, however you need to make sure they are giving you an appropriate salary. They will try to low ball you. It'd be good enough to get into NYC then find another appropriate paying job there.
If that opportunity happened for me, I'd say ok I'd like to go but that isn't a livable salary for manhattan, I'd need atleast 70 or 80k.
what with the low ball comments? Most likely fresh out of college or little work experience....its a standard pay for entry level with for a non CPA. Gotta put in the required 150 hr audit requirement and such. As noted above, after a few yrs of hard work, then come the rewards....hopefully making partner or banking big bucks elsewhere.
I'd say NYC over Chicago is worth it, however you need to make sure they are giving you an appropriate salary. They will try to low ball you. It'd be good enough to get into NYC then find another appropriate paying job there.
If that opportunity happened for me, I'd say ok I'd like to go but that isn't a livable salary for manhattan, I'd need atleast 70 or 80k.
That's not how it works. There is no salary negotiation for an entry level position with the Big 4. All 4 pay within a couple grand of each other, and everyone in your new joiner class will make the same as you. If you don't like it, there are thousands of others lined up behind you who will happily take your place.
56K sounds about right for a starting salary at the Big 4 firms, most of them also throw in 5K sign-on bonus, sort of to cover for expenses such as cost of business suits, and another 5K on top if you are relocating for the job. If you have an offer from one of the Big 4's in Chicago vs. the Big 4 in NYC, on a surface, it might seem that Chicago is a better bet doe to shorter hours and cheaper cost of living, however, you need to figure out what is your ultimate reason of working for the Big4. a. Is it just to get the CPA license, which by the way, in many states is no longer required. b.Is it to have the name on the resume and use that as leverage to find a 9-5 painless job where the rest of the drones will treat you like the top authority because you came from Big 4? c. Is it to make a partner? d. Is it to find a job with a client that will turn into a once-in-a-lifetime opportunity? If the answer is a or b, then I would stay in Chicago. If, however, you are so ambitious that the answers are c or d, NYC is the place to be simply because the type of clients you will be working on here will be creme de la crop, especially, if you land in the alternative investments practice/investment management/financial services, i.e hedge funds/private equity/the rest of the Wall Street. These clients require insane hours on the engagement because they are so deadline-driven so 60-70 hour workweek during a busy season is actually light, it's more like 80 to 100, no joke, and when things get really close to deadline, don't be surprised to work 18 hour days for 2 weeks straight because the client happens to be the best client your partner has, meaning, they pay on time, don't dispute bills, treat partner's staff with respect (you can't believe how many clients are openly hostile to the auditors), and treat partner as a trusted advisor, so he would be willing himself to bust his behind in case of crisis. With the headache, however, come immense opportunities such as joining that same client a very nice 6, potentially growing into 7 figure comp if you are that good. This road is not for everyone, and as a client, I have seen our enagement managers and seniors come and go, mostly, leaving the public firm for more laid-back environments, however, there are a few who decided to stay, they are either clearly on a partner's track, or are waiting for that once in a lifetime opportunity. I do want to point out though one interesting paradox-despite the hours, most of the people I speak to who work in public say that they have more flexibility during non-busy season, for example, taking 3 weeks off vacation, not coming into the office at all and not being charged vacation day for it, working from home, etc, which I, working in private, fewer hours, don't have. We had someone who came to us from public to escape the long hours, he lasted 3 months, and went back to the same firm, told me that he did not have any flexibility (well, we are financial services, so I guess might be even worse than public).
I thought the big 4 accounting firms just signed off on the corporate paperwork without actually having to read any of it.
You shouldnt think sometimes because it causes your fingers to type something so grossly wrong.
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